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The initiative aims to foster innovation, economic development and employment in Madrid through cooperation between universities, entrepreneurs, investors and governments.

Backed by the Massachusetts Institute of Technology (MIT), the collaborative platform Madrid Innovation Driven Ecosystem (MIDE) was presented as part of the MIT Regional Entrepreneurship Acceleration Program (REAP). The initiative seeks to promote innovation, economic development, and employment in the Madrid region.

Following the REAP methodology, MIDE seeks to bring together in one place the five key players that must be involved in any innovation ecosystem: companies, universities, entrepreneurs, investors and public administrations.

The platform is integrated by a multidisciplinary team formed by the Community of Madrid, Polytechnic University of Madrid, Calidad Pascual, IBM, Ferrovial, Tetuán Valley, Alcorcón Ecocity and Unlimiteck. It is expected that in the future more entities will join this initiative.

The non-profit platform aims to "create a common space of innovation and entrepreneurship where different stakeholders can work together with three clear objectives: to generate a collective impact that achieves progress in the Madrid region; that economic and social progress in the community contributes to the development and growth of different stakeholders in the ecosystem; and that Madrid becomes an international reference capable of attracting and retaining talent", explained Álvaro Bernard, Director of Disruptive Innovation at Calidad Pascual, during the presentation that took place at THECUBE Madrid.

Why Madrid? MIDE was established in the city because it is "a hub of key communications" with Latin America, Europe and the Middle East, commented Ángel Francisco Agudo, a professor at the Polytechnic University of Madrid.